Professor John B. Goodenough started his research on perovskite‐type oxides working on random‐access memory with ceramic [La,M(II)]MnO3 in the Lincoln Laboratory, Massachusetts Institute of Technology, more than 60 years ago. Since then perovskite‐type oxides have played vital roles in the field of energy conversion and storage. In this review, a brief overview is given on the structure, defect chemistry, and transport properties of perovskite oxides, especially the mixed‐valent materials with mixed electronic and ionic conductivities. The recent advances of perovskite oxides applications in the oxygen reduction reaction, oxygen evolution reaction, electrochemical water splitting reaction, metal–air batteries, solid‐state batteries, oxygen separation membranes, and solid oxide fuel cells are highlighted. Moreover, some novel design strategies for optimizing performance, like interface engineering, defect engineering, strain modulation are discussed as well. Finally, a perspective is given on how to design high‐performance perovskite oxide based materials for energy conversion and storage applications as well as the challenges involved in this task.